Nabt, a Saudi agritech startup, has secured USD 1.5 million in a seed funding round led by Merak Capital. This investment will help Nabt accelerate its product development and expand its market influence, aiming to transform Saudi Arabia’s fresh produce landscape.
Merak Capital, known for backing technology-driven sectors such as sustainable agriculture, sees this funding as a crucial step towards boosting food security and sustainability in line with Saudi Arabia’s national development goals.
Nabt operates a B2B marketplace that connects farmers with businesses, enhancing efficiency and transparency in the supply chain. This initiative supports Saudi Arabia’s Vision 2030 objectives of food security and economic diversification.
The startup participated in the Sunbolah FoodTech Accelerator, an initiative by the Ministry of Environment, Water, and Agriculture (MEWA) to foster innovation in agriculture. Leaders from Merak Capital and MEWA have highlighted Nabt’s potential to revolutionize the agricultural sector.
Abdullah Altamami, Founder and CEO of Merak Capital, stated that their commitment is to leverage Nabt’s technology to transform the fresh produce sector. The investment aligns with their mission to support innovative startups that focus on technology, enhancing food security and sustainability.
Ali Alsabhan, General Manager of Entrepreneurship at MEWA, praised Nabt’s progress through the Sunbolah FoodTech Accelerator program. Meanwhile, Abdullah Alotaibi, CEO of Nabt, expressed gratitude for the support from Merak Capital and other investors, emphasizing their dedication to improving the fresh produce supply chain.
With the Saudi agricultural market expected to grow from USD 18.77 billion in 2024 to USD 24.14 billion by 2029, Nabt is poised to enhance food security through advanced infrastructure and sustainable practices.
